Finance
Sweden's Husqvarna appoints Glen Instone as new CEO
Published by Global Banking & Finance Review®
Posted on July 18, 2025
1 min readLast updated: January 22, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on July 18, 2025
1 min readLast updated: January 22, 2026
Husqvarna appoints Glen Instone as CEO, effective August 11, succeeding Pavel Hajman. The company faces financial challenges with a recent drop in profits.
(Reuters) -Sweden's Husqvarna on Thursday named insider Glen Instone as its new chief executive effective August 11.
Instone will replace Pavel Hajman, who has been at the garden equipment maker's helm since May 2023. Hajman had expressed his intention in April to step down once a successor was appointed. Instone has been with Husqvarna since 2002, and is currently the president of Husqvarna's forest and garden division. Prior to that he was the company's chief financial officer.
The company in April reported first-quarter operating profit below expectations hit by soft demand in North America, currency headwinds and lower prices.
The company had said that its earnings before interest and tax fell 21% to 1.53 billion Swedish crowns ($156.96 million), missing analysts' average forecast of 1.71 billion crowns.
($1 = 9.7475 Swedish crowns)
(Reporting by Rishabh Jaiswal in Bengaluru; Editing by Shailesh Kuber)
Operating profit is the income generated from a company's normal business operations, calculated by subtracting operating expenses from gross profit. It reflects the efficiency of the company's core business activities.
Currency headwinds refer to the negative impact on a company's financial performance due to fluctuations in currency exchange rates. This can affect revenues and profits when dealing in foreign currencies.
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